Offering traditional clothes with a modern twist has been the USP of ethnic wear brand Rangriti which recently launched a new range of fashion jewelry across India. The brand, established to cater to the middles class, offers jackets, kurtas, shrugs, Indie tops, bottom wear like palazzos, skirts, fusion pants, slim pants, stoles, scarves and ethnic Jewellery. “We offer all kinds of outfits, for office or party. Compared to international retailers, our prices are affordable,” states Sanjeev Agrawal, CEO of the brand.
Rangriti also runs a campaign that aims to offer customers a variety of clothes at affordable prices for various functions like weddings, etc. “Known as ‘Parineeti for Rangriti’, the campaign enables us to offer a fantastic mix of dresses, kurtis, lehengas and shararas to our customers,” explains Agrawal.
Ethnic wear retains popularity
Though the Indian apparel market has been consistently influenced by upcoming trends, ethnic wear has retained its importance in people’s lives. “Changing lifestyles and increasing fashion awareness has lead to a significant growth in this segment. A recent study reveals, Indian ethic wear market is expected to rise to Rs 51,866 crore by 2027,” notes Agrawal.
Some major drivers of this growth include a rise in Indian female population and boost in female workforce. “Growing demand for ethnic wear is leading to a rise in preference for Indo-Western clothes in both casual and formal wear. People are sporting such looks at not just the airport but also at meetings and in parties,” Agrawal says.
Targeting revenue and retail growth
Rangriti was launched as an affordable brand targeted at the unbranded segment, and provide superior quality products at a good price to customers. “Today, we have 94 stores in 56 cities and plan to launch more exclusive stores in the coming years,” Agarwal informs. Besides having its own e-commerce platform, Rangriti is also retailed online through Flipkart, Amazon, Ajio, Myntra. It is also available in large format stores like Reliance Trends, Central and Lifestyle besides many others.
The brand targets business worth Rs 900-Rs 1,000 crore in the next financial year. “We plan to set up atleast 100 stores over the next two-three years. Our focus will be on penetrating the Tier II and III markets,” Agrawal sums up